Skip to main content

tv   The Willis Report  FOX Business  October 17, 2012 9:00pm-10:00pm EDT

9:00 pm
presidential debate. lexes day 20 days away. last night was intense, but did it change momentum for either candidates? let's ask the founder and chairman of laffe rerks associates. welcome to the show. >> thank you very much, gerri. gerri: let's talk about the most important issue to americans out this, and that is the economy. the president last night describing mitt romney's plan as a sketchy deal saying you can't cut taxes 20% across the board, get rid of deductions and have a hope of balancg the budget, and you say? >> i think it's wrong, the president's incorrt. in 1986, gerri, we cut the rate from 50% to 28%. good enough cut for you? raised the lowest, broadened # the base, and we had a boom, and
9:01 pm
almost every democrat voted for it. biden voted for it, chris dodd voted for it, teddy kennedy votedded for it, brought in huge revenues and prosperity. it's the easiest thing in the world to do, broaden the tax base, make had revenue neutral, and you'll see a boom. from what i see, that's exactly what mitt romney's proposing. you can't balance the budget on the backs of the unemployed. you can't. gerri: half the american people are not paying federal income taxes making it hard too right now. i want you to hear sound from last night, a question thehe president took from the audience. i want you to hear the exchange. >> mr. predent, i voted for you in 2008. what have you done or accomplishedded to earn my vote in 2012? i'm not that optimistic now. most things needed for everyday
9:02 pm
living are expeive. >> four years ago, i told you i'd cut taxes for middle class families, and i did. i told you i'd cut taxes for small businesses, and i have. romney: i think you know better and that the last four yrs have not been so good. gerri: so you look at the economy as we've experienced it. face it, the recessio was over in the spring of 2009, what do you make of the economy's performance now? >> well, it is the single worst we rover ri in the history of the u.s.. it's an awful recovery. it's as far below the next worst as the next worst is below the st. gerri: we got a long way to go. when you have 7.8% unemployment, when you have 24 million americans not worki, you got to question what's going on. one of the big issues, taxes. now, the president said in that exchange, if you heard it, that heowered taxes for small business, but when you look at
9:03 pm
it -- >> excuse me, sorry! gerri: bless you. >> thank you, what can i tell you. i've never done that befooe. gerri: unfortunately, i have. [laughter] we learned the small business tax as the president talked about is actually a tax deduction for health care, and it's so complicated that most small businesses don't want to take it. the irs talks people into taking the deduction so when you look at the performance, it is just not up to snuff, is it? >> no, it's not, no. the president claiming he's cut taxes is ridiculous. he has not. he has also proposed very sharp tax increases. there's obamacare coming on january 1st, 2013. the elimination of the bush tax cuts, the payroll tax cut to be eliminated on january 1st, 2013,
9:04 pm
the deductions for capital expenditures, that's gone. if we get to january 13th, and he allows that all to happen, you'll see a very serious down turn in the u.s. economy. this economist's view of the world. it's a very serious problem. gei: respond to obama's comments directly on romney's tax plan. listen to this. obama: what he says is he's going to make sure this doesn't add to theedeficit, and he's going to cut middle class taxes, but when he's asked how are you going to do it, which deductions, which loopholes will he close, he can't tell you. we have no heard from the governor specifi beyond big bird and eliminating funding for planned parenthood in terms of how he pays for that. gerri: how do you respond to that? >> just like the 86 tax agent. congress goes through the
9:05 pm
legislation, deductions and exclusions and choose at to do. romney would limit deductions for every single person. that's the ceiling. if you do that ceiling and lower the rates the way he suggested, it ll not cause any increase in the deficit whatsoever and will bring back prosperity. romney laid out the broad outline without going into every little detail, and i don't know what obama's plans arever the next four years or what they have been over the last four years since this economy's gone -- gerri: 're not seeing what the other plans might be. another piece of sound from romney on the middle class being crushed. listen to this. romney: the middle class is crushedded under the policies of a president who has not understood what it takes to get the economy working again. he says, look, i created 5 million jobs. that's after losing 5 million jobs. the entire record is such that the unemployment has not been reduced in this country.
9:06 pm
gerri: what do you thiik that? >> it's true. it's correct. i mean, we've had a huge drop in the participation rate of people who just droppe out of labor force because they can't find jobs. they no longer consider themselves in the labor force. we have a part-time labor force whwant to be full time, and we have high unemployment. this is the single worst recovery in the history of the u.s., and why obama says he created jobs is nonsense. the labor force should have grown more than the js he's created. that would be higher unemoyment rate, but people have left. gerri: growth is the answer. >> only answer, and it's the answer to poverty to. the best form of welfare is a high paying job. gerri: i agree. i hope you feel better. >> oh, i'm fine, never done that, thank you, gerri. gerri: thank you, good to have you on. >> thank you. gerri: what do you think? is it possible to lower tax
9:07 pm
rates and raise revenue? log on to gerriwillis.com, vote on the right side of the screen, and i'll share the events at the end of the show. almost a twn brawl when they got in a heated exchange over the attack on the libya consulate. moderator candy crowley jumped in. with more, bill crystal, editor of the weekly standard. bill, welcome to the show. >> hi, gerri. gerri: what was your response to the exchange? it was pretty heated. >> it was heated. i don't think romney took advantage of the fact that president obama is vulnerab on his -- the y he's managed the situation in terms of security september 11th, and, of course, the misleading statemes, senior administration officials like himself made for two or three weeks after september 11th, but mitt romney got distracted in one sentence of one thing he said in the rose
9:08 pm
garden and didn't lay out the case comprehensively both as to what the obama administration did wrong and what the meaning of that is. whyfuls the obama administration obsessed about a video that had nothing to do with what happed. you have to explain that to voters. you can't just say, you went to las vegas. that's inprompt. lay out the argument why it was indicative of the failure. gerri: listen to the sound here. it's prate amazing. romney: you said the day after the attack it was an act of terror, not a spontaneous demonstration, is that what you're saying? obama: proceed, governor. romney: i want to get that for the record because it took the president 14 days before he called the attack in ben bengha. obama: get the transcript. >> moderator: he did -- obama: say that louder. >> moderator: he did call it an act of terror.
9:09 pm
gerri: she got that wrong, but is it too late? >> she was half wrong. people for romney shouldn't kid themselves. it's a stupid way to conduct a debate. it's not high school where you get temperature points for tripping up the opponent. you explain to the vote why you should be president and why president obama should be removed. it's foolish to turn to the president in that way. he set obama up. obama kns what he said in the rose garden, mentioned terror, but what's damaging is he said it was a spontaneous demonstration. he got the video six times at the u.n. two weeks later, ect., ect., and everybody was watching. million different places should have been able to lay that out. i do think, to be honest, i think governor romney, i don't think the issue goes away. the facts are the facts. an ambassador was killed.
9:10 pm
how does obama elain what happened? gerri: you have to age they have not stepped up to talk about it. >> totally. totally. gerri: hillary clinton saying it was her fault is not enough. the president says t buck stops with him, but it took the debate for him to say that. if you were hoping to win over undecideds, people on the fence, you department do it with the slamming, the nastiness, the vindicveness on both sides. >> well, i thi president obama does not want to win over undecideds. he wants to territhem about mitt romney. i ink he thin he did a little bit of good, but i think i agree with you. i think romney is in the driver's seat. he just needs to persuade and reassure undecideds that he has a plan to deal with the economy and that he's sober and serious enough to have a btter way rward in foreign policy. i think he held his own fine. i agree with you that both preebl got into it too much, but it makes sense for obama base
9:11 pm
he's the one who has to destroy romney as romney said months ago, didn't he, mrs. romney said they want to kill or some obama adviser said the plan is to kill romney. romney's plan can go positive. people have their doubts about obama. gerri: i think what appeals more is a positive spin. >> i agree. gerri: we can solve the problems, here to make it work, not here to beat you up. >> i totally -- gerri: they said they needed lib light sabers last night. women after women trying to get the women's vote. listen to this. >> right. romney: 3.5 million more women living in poverty today. >> women's groups. >> women in the work force. >> including millions of youngg women. >> more young women in leadership positions. >> young women can compete in the market place.
9:12 pm
>> help women get work by a stronger economy. >> that's not the kin of advocacy women need in any economy. >> women. >> it' an economic issue for women. >> so many good women to be a part of the team. gerri: all right. you get the point. going after women. who wins, bill? >> they care about you, not me. gerri: you are already decided. >> exactly. you're undecided, you typical woman, can't make up your mnd. i think it's ridiculous in patronizing on both parts. mitthould pay less attention to the advisers saying focus groups, pay less attentionn the weeds and snapping at obama at every little thing and calmly lay out the plans for the future i think a majority of the voters are willing to fire president obama, but need to be reassured mitt romney has strong plans at home and abroad. that's what he did well in the first debate. i think he can do it monday night, and if he does, he wins.
9:13 pm
gerri: someone said they were over prepared and that's why they were ready to, you know, beat each other up bill, thanks for ming on tonight. >> thanks. gerri: areciate the ttme, come back soon. >> happy to do it. gerri: well, also today, federal authorities stopping a potential terrorist attack on the new york federal reserve building. w, that is locate just blocks from the world trade center site where the 9/11 attack occurred 11 years ago. authorities, like the fbi and the new york police department, say a 20-year-old man from bang bangladesh was arrest after a sting operation. the suspect parked a van filled with what was believed explosives outside the building, but the people that gave him the thousand pound bomb were undercover officers, and the bomb was not real. the potential attack comes weeks after terrorists killed an ambassador and three others in libya. new york fed employs 2700 people, base of communications of federal regulators and largest investment bas and
9:14 pm
financial institutions. serious stuff. still to come tonight, a lot more on las night's debate like the favorite body language expert to see what the candidates really were thinking, and president obama said the administration did wonders for e economy, but what's the really story? i'll break it down next. i'll break it down next. ♪ [ male announcer ] you are a business pro. monarch of marketing analysis. with the ability to improve roi through seo
9:15 pm
all by cob. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. i'm going b-i-g. [ male announcer ] good choice business pro. good choice. go national. go like a pro. [ male announcer ] good choice business pro. good choice. that's a good thing, but it doesn't cover everything. only about 80% of your part b medical expenses. the rest is up to you. so consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, they pick up some of what medicare doesn't pay. and save you up to thousands of dollars in out-of-pocket costs. call today to request a free decision guide
9:16 pm
to help you better understand what medicare is all about. and which aarp medicare supplement plan works best for you. with these types of plans, you'll be able to visit any doctor or hospital that accepts medicare patients... plus, there are no networks, and you'll never need a referral to see a specialist. there's a range of plans to choose from, too. and they all travel with you. anywhere in e country. join the millions who have already enrolled in the only medicare supplement insurance plans endorsed by aarp, an organization serving the needs of people 50 and over for generations... and provided by unitedhealthcare insurance company, which has over 30 years of experience behind it. call today. remember, medicare supplement insurance helps cover some of what medicare doesn't pay -- expenses that could really add up. these kinds of plans cos in out-of-pocket costs...
9:17 pm
u'll be able choose any doctor who accepts medicare patients. and you never need referrals. so don't wait. with all the good years ahead, look for the experience and commitment to go the distance with you. call n to request your free decision guide. this easy-to-understand guide will answer some of your questions, and help you find the aarp medicare supplement plan that's right for you. gerri: last night, we talked about howmy shelly obama being in a huge recovery. last night, the president made the same point. >> losing 800,000 jobs a month
9:18 pm
when i started, but we have been digging our way out of policies that were misplaced and focused on the top doing very well and middle classfolks not doing ll. we've seen 31 consecutive months of job growth, 5.2 million new jobs created, and the plans that i talked about will create more. gerri: i have to tell you, that's not enough job creatio we need more. i can think of no credible economist o believes our economy is thriving. here's why. when you compare this recovery, thone that started in june 2009 wayack then, with every recovery since world war ii, this recovery is stinko. last nig, romney compared obama's track reagan to reagan who faced a monster of a recession entering office in 1981. out of control inflation, high unnmployment, sky high interest rates.
9:19 pm
romney: you say, well, is there an example of one that works better? yeah. in the reagan recession, unemployment at 10.8%, between that period, end of that recession and equivalent period of time to today, reagan's recovery created twice as many jobs as this president's recovery. five million jobs doesn't keep up with the population growth. the reason the unemployment rate is lower today is because of al the people that dropped out of the work force. gerri: digging into this. investors business daily compared the obama recovery with the reagan recovery. this is what they found. when it comes to household income, n reagan, incomes up 4%. under obama? down more. keep in mind reel median incomes in the recovery are down $3,000. that's a lot of money. let's talk about payroll jobs. talk a lot about this under reagan they went up 11%, under obama, up 2.3%. that's lousy.
9:20 pm
fewer people working today than when the president took office. think about that. all right. let's talk about the long term unemployed. a big problem in the economy. we talk about this all the time, impacts people over 50 typically. long term unemployed reduced under reagan by nearly 50%, and under obama, up 11%, and now the jobless are increasingly young people. that's the truth about that. food stam, 15% of americans on food stamps in this country. reagan, however, reduced it by 8%. up 34% under obama. now, we get to the big one of economic numbers, gdp growth, look at this. under reagan, the economy expanded almost 20%, and under obama? it's expanded just this amount. you see when romney says we don't have to settle for the punk economy, sky high unemplment, huge debt and deficits, he's right.
9:21 pm
there's a way out. reagan shows us that cutting taxes, lifting regulations, cutting federal spending, not raing it, can propel growth. we don't have to settle for this. america's best days are not behind her. that's what i think. i want to know what you think. e-mail me, gerri@foxbusiness.com. coming up on "the illis report," he says the social welfare system in europe is not working at all, but is the u.s. next to fall in the dangers of this? we'll askn economist and grand master of global markets next. round two of obama and romney face off last night, but what did the body language say to voters? we'll examine every smirk, smile, and frown as our expert gives her take. also, soon skyrocketing airline fees will be the least of your worries. find out the new travel expenses that may impact your next trip. we're on the case next on "the
9:22 pm
9:23 pm
so, what happens if i'm in an accident and need to get carixed? progressive makes it easy, because we give you choices. you can pick where to get your car fixed, we can cut you a check, or, at our svice center, we take care of everything for you. [ relang music playing ] [ chuckles ] -whew, so many choices. -take your time. -the service center. -okay. giving you choices -- now, that's progressive. call or click today.
9:24 pm
gerri: record number of americans getting government assistance, what's that mean for the future and will the america
9:25 pm
gerri: at last night's presidential debate, mitt mney put forward a stark choice for america. elect him and he'll get america on track. re-elect president obama, and we're on the road to greece. with dependence on the government now at an all-time high, massive spending paid for by borrowing is a defining issue in the campaign. joining me is the ceo of saxo bank, a danish investment bank. lars, welcome to the show. >> thank you.
9:26 pm
gerri: start with food stamps, a big program in the country, now 15% of americans on food stamps, and we got news more are dependent on it. 47 million americans on food stamps compared to 32 million in january of 2009. what do you make of this? >> it's not surprising because the nature of entitlement programs is they grow and grow. there's so many dynamics pulling that direction, you know, the people that want, entitlements, people making money from administering entitlements, people benefits from creating those dependent on the state and not least. that's dangerous. there's socialists who want voters that way. gerri: you say "socialist" in theountry, and everybody denies it in this country, but, of course, there are. you make a point that there's vested interest in keeping the programs. one of the things that amazes me is they pay money to advertise food stamps which mystifies me. doesn't everybody know about
9:27 pm
them? why tell them? >> that's the nature of government. it's like any other organization. it likes to grow, most othe time, not necessarily at the top, but the organization itself so you have vested interests, people living from administering the program. lots of people have an interest in the government getting bigger. there's bigger in denmark where, you know, more than 65% of t voting population is on some kind of public payment. gerri: wow, unbelievable. >> yeah. gerri: take a look, facts here that shocked me, and you're from denmark. tax revenue as a percent of gdp, that's 49%. france, 44%, germany 40%. the u.s. looks like we're on the road to being like the other countries. >> well, if you're not careful, u will be. you ha to think that one thing is the direct tax, and the other is what is the deficit rate.
9:28 pm
in effect, the deficit is tax pressure coming later on. you're probably higher up the list already; right? with the current deficits. think that the 49% sounds a lot, but think about who pays that for an upper middle class citizen, pays 80% of his income in taxes in denmark, not just income tax -- gerri: how much? repeat that. >> 80%. think incomeax is 60%, capital gains is 42%, sales tax at 25%. car tax is 200%. it all adds up. gallons gasoline is $10. gerri: you have 20% leftover. >> that's the middle class tizen. gerri: why do people say? >> it's a nice country apart from at. gerri: you can get money from the government; right? >> when you add it up, it runs fast. gerri: you are here to warn us we're on the road to greece, change our ways.
9:29 pm
>> i'm here to point out, i'm doing a speaking tour at the moment on european socialism and what itmplies. some othe stuff ientioned here, and what's sad is it employs building entitlement prrams creating vick tips, people that other side would have had productive good lives get convinced by the government -- gerri: the problem is not just the money, but the people living under the government. >> absolutely. gerri: we have to leave it there. i apologize for cutting you off. thank you for being with us, a fascinating story, one we cover a lot lately, thank you so much. >> thank y, thank you for having me. gerr still to come, another obama pet project bites the dust. what that says for the future of electric cars. seems like the candidates last night were close to blows. the body language from the debate and what that says about the candidates. ♪ bob...
9:30 pm
h, hey alex. just picking up some, brochures, posters copies of my acceptance speech. great! 's always good to have a backup plan, in case i get hit by meteor. wow, your hair looks great. didn't realize they did photoshop here. hey, good call on those mugs. can't let 'em see what you're drinking. you know, i'm glad we're both running a nice, clean race. no need to get nasty. here's your "honk if you had an affair with ylor" yayard sign. looks good. [ male announcer ] fedex office. now save 50% on banners.
9:31 pm
9:32 pm
9:33 pm
♪ gerri: well, maybe there should have been a refereeather than ad moo rate -- moderator last night. the debate full of tense moments, and even when they were not talking, they didn't like each other. here to break it down, our body language expert and author of "the power of body language: how to succeed in every business and social encounter." i love that idea. i thought it was so tense it was off the charts. i want you to hear this exchange over drilling. romney: production is down on government land down 14%. obama: governor, what you say it's just not tr. romney: absolutely true. gerr what do you make of that? >> such a great spot. it was like a primal man on man, romney is chasing him down to
9:34 pm
kind of engage him. gerri: the president turns his back. >> he did a looked down. he turns back, looks down, and romney gained appointmentsnd obama lost points baa he didn't face him, th chest to chest, duke it out. he walked away. gerri: oher exchange getting attention is the one over libya so i want you to check out the video of this. you know, we were debating this, benghazi, what did the president know, why did he say it was a result of a video, why didn't he say, you know, it was a terrorist attack, clearly, that didn't happen. hillary clinton apologizing for the president. look at the two of them and how they interagenting, what do you make of it? >> the interaction switched. romney was angry and obama came across as relaxed. sits he, and doesn't get up. he feelsowerful he doesn't need to stand. what happens, obama stands up, and he'll walk towards candy,
9:35 pm
and that's when the real interaction starts. here, obama won for sure. gerri: he was baid out by the moderator whtook up his position and turned out to be incorrect. let's talk about the tax plan. now, to me, all the economic issues are the most important issues. >> right. gerri: most important for the viewers and americans across the country. here is obama going after romney on the tax plan. >> governor romney was a successful investor. if somebody came to you, governor, with a plan that said, here, i want to spend $8trillion, and we'll pay for it, but wean't tell you until maybe after the election how we're going to do i you wouldn't have taken such a sketchy deal, and neither should you, the american people, because the math does not add up. gerri: you're the expert, and i know where you are doing because i was lik don't stand like that.
9:36 pm
>> exactly. you have to be able to differentiate people's baseline behavior. we watch the candidates over the last few months especially, but we know them from the last few years as well. one of the things inow about romney is that's not a normal stance for him. he stands with the hands a a side. this position is the fig leaf position, one of iecurity, vulnerabilit i don't feel confident in what's going on. the president, engaging, talking to everyone, and romney is in this state, it makes him look like the person of insecurity. gerri: i agree. you know, last time we talked about romney and obama, you really made a lot about romney's closing statement thinking it was strong, you liked it. what did you think this time around? >> still very strong. he's great. he engages. the only thing is, and this forum, obama wins because that's his natural setting. he has that swagger, charisma.
9:37 pm
romney behind a podium, he looks presidential, but when he's walking, he's stiff, arm movements not big like obama's are. he doesn't look as confident and natural as obama does. gerri: at the podium, he was commanding. >> agree 100%. takes control. on that stage, though, obama won. gerri: tough for people not used to that. >> turn off the volume and watch. rri: you're exposed. >> the lower half is where lnerables come out the feet and legs. gerri: thank you for helping us. always a pleasure. thank you so much. in tonight's tech connect, last night's debate was a hit on social media. the lab that studies social media reaction, the debate generated 12 million commen on twitter and facebook making it the most talk about political event of all time. the third of any kind of event saying immigration produced the
9:38 pm
biggest spike in conversation with posts from women, but it was the phrase "behinders full of women" jumping # # -- 200,000 on facebook. 66 million people watched debate on good old-fashioned tv. stay with us. 4g lte is the fastest.
9:39 pm
9:40 pm
so, which supeast 4g lte service would yochse, baseon this chart ? don't rush into it, i'm not looking for the fastest answer. obviously rizon.
9:41 pm
okay, i have a different chart. going that way does that make a difference ? look at verizon. it's so much more than the other ones. so what if we just changed the format altogether ? isn't that the exact same thing ? it's pretty clear. still sticki with verizon. verizon. more 4g ltcoverage than all other networks combined. gerri: obama's green scheme takes a turn for the worst.
9:42 pm
electric battery car maker, a123 systems filing for bankruptcy protection after receing $250 million in loan guarantees. do taxpayers have hope of getting the mon back? joining me now is kenneth gree environmental scientist and resident scholar at the american enterprise institute. great to have you here. talk about what went wrong, they went public, raising $380 million, an ipo. what went wrong? >> that the market for the their prodt failed to appear. people are not buying the electric cars in the numberers necessary support technology, and they had problems getting the technology into the market and not having problems with the technology as well. gerri: look at the stock chart, i don't know if it's up yet, but it's dismal. it tanks like a stone. we have that? yeah, there it is. that's not what yes want to see as a ceo of the compa. the obama administration's defense is that the factories are not disapprs, but taken over by johnson control.
9:43 pm
feel better about that? >> no. the question is what's important is whether or not taxpayers get the money back. johnson control takes them over, but they will not be buy k them at the -- buyi them at the full markkt price. they get a freebie here. that's part of the venture socialism where the government invests taxpayer money. things go well, profits privatized, if not, risks are socialize. johnson gets a freebie. gerri: a bush grant in 2007 of $6 million, in 2009, a obama grant of $209 million. where do you draw the line? what should you fund and not fund? >> a lot of literature on this, and it's agreed that the government has a legitimate role of funding basic university research and development, chemistry, physics, biology, things like that, not how to scale up a technology to bring it to market it's not how to deploy new
9:44 pm
technologies in the market. it's very much furtherack on the development chain. when the government gets into the valley of death thing, things go there to die. gerri: that's what we've seen with a of the department of energy companies. so my of them and in bankruptcy now. they had ties to the obama administration so not only do you have the government in there doing what it does least well, but you have crony capitalism. is that just a necessary by function of having the government involved in this thing that at the end of the day you end up giving money to people you already know? >> pretty much, yeah. you give money to people you know or if you don't know them, the prospect of money wh saw on the horizon, they ensure you learn who they are, hook up with you, and there's a deal where yoyou give money to you, steer money to you, and everybody is happy other than the taxpayers fundinmoney to both of you. gerri: four of the 26 companies in the program are bankrupt. a123 systems, solyndra, beacon
9:45 pm
power,nd abound solar. people out there make the point that the government got involved at just the wrong time, and if they got involved earlier or later, the fortunes of the company would have turned around. what do you say to that? >> that's always the excuse. we've seen cycles like this before. the electric car mandate in california, the exact same promises from california politicians th they were going to buildhe next generation ttery technology plants in california, the next great california renaissance in the 1990s, billing batteries forhe electric ca politicians mandated on the road. years later, all in ruins, gm destroyed all electric cars, and ten years pass, and we forgot the whole things. gerri: talking electric cars since the 20s. will it take off? >> doesn't look like it. robert bryce says electric cars are et great thing and always will be.
9:46 pm
they chased it since the early 1900s. batteries are not dense enough in how much energy they store to compete with an engine powered by gasoline. that's amazingly high in energy content not matched with batteries, and consumers want a range in performance. gerri: not all energy sources created equal. some better than others, hers a lot better than others. ken, thank you, appreciate your time. >> my pleasure, thanks. gerri: still to come, two cents more on a plan to ban homework. forget airline fees, cruises and rental car companies nickel and diming you. what to look out for next.
9:47 pm
gerri: getting from point a to b never more expensive. the outrageous fees companies slip under your bill
9:48 pm
9:49 pm
9:50 pm
gerri: in focus tonight, travelers fed up with fees, me included. the airline industry raking in $22.5 billion from nsumers, me and you, last year. just getting to the airport can cost you. in fact, from the momen you walk out the front door, there's a mountain of extra charges, charges you don't realize you pay until after you getthe bill. founder of airfarewatchdog.com. shouldn't they be nice to consumerrers? >> what's happening is the base fares and base cruise fares and hotel rates are low. in fact, give them breaks because adjusted for inflation, airfares are lower. it costs $1800 minimu-- that was the only fare between new york and los aeles in 1959,
9:51 pm
adjusted for inflation. gerri: all right. we mentioned airlines raked in $22 llion inees. what's going on with spirit. they are hiking on the fees. checking carry on bags at the gate, $100, carry-ops paid at booking, i mean, you know, it costs you more to have a bag than to buy the ticket. >> if you were toly between oregon and dallas recently, a new spirit route, i don't own airline stock, and i'm t an aficionado, but costs $77 round trip on srit, $700 on american airlines, same route, same day. even with the fs, you save money. now, cruise lines -- gerri: you know, i think people in the back of their head are doing that, and once they are over the limit, people sign off. >> what happens is the es are hidden. there's even booking fees to use the online websiteshat you don't see until you actuallyo and pay your money so there's a
9:52 pm
lot of hidden fees. the cruise line does this t, the cruise iustry. i've seen $29 extra charges for filet mignoin the main dining rooms. you paid to go into the specialty restaurants, but now you're seeing on the main dining menu $29 extra fee gerri: just to drive the point home. carnival got $936 billion in fees last year. unbelievable. it's not just cruise lines, but hotels got in $1.68 billion in fees in 2011, fees to hold the bag, make money from that, parking is atrocious, look at this. in room safe. never saw a fee for that. oh, my lord, ridiculous. >> wifi charges. stay in a hilton garden inn or a mid range. they don't charge for parking, sometimes have free breakfast. i drove across country a couple
9:53 pm
months ago staying in the fairfield ins, free parking, and the beds just as comfortable. gerri: i think they are a fantastic deal, thos chains. they give you so many extras, and you tend not to pay for them, they are clean, brightly lit, not what you expect, very comfortable. big advocate. car rentals. this is one of my favorite thingso complain about. if you return the car early or late, you get fees, fuel charges, always have that, era drivers charge more if the wife drives too, goes on and on. >> absolutely. that's how they make money. the thing about rental car companies is they charge a lot for t base rental fees. the rental car prices are outrageous. without the fees, they have gone upand up and up. the airlines are charges less than they charge many, many years ago, and hotels and cruises, you can go on a cruise for, you know, $39 a night, but
9:54 pm
when you drink and gamble -- gerri: helps to e. costs an arm and a leg. george, thanks for coming on tonight. a pleasure to talk to you. i have 20 say you pick your colors well. thank you, you look great too. thank you, you look great too. gerri: t [ male announcer ] at scottrade, you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodge] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... [ all ] i'm with scottre. turn billion of bytes of shared information... ♪
9:55 pm
into a fifth anniversary of remission? whatever your business challenge, dell has thtechnology and services to help you solve it. heartburn symptoms causedelieve by acid reflux disease. whatever your business challenge, osteoporosis-related boneractures and low magnesium levels have been seen with neum. possible side effects include headache, diarrhea, and abdominal in. otr serious stomach conditions may still exist. talk to your doctor about nexium.
9:56 pm
9:57 pm
gerri: president obama says that mitt romney's plan to lower tax rates will hurt the economy. is height? can you lower tax rates and raise tax revenue. this is what some are you are posting on facebook page. >> it would put more money in people's pockets, and spend more, seems like i remember something called reaganomics,. gerri: you got that right, todd. >> and jim from pennsylvania, i
9:58 pm
work for for a refinery, obamad his regulations almost shut us down, we need romney for fracking and pipelines, and depend less on foreign oil, we have the resources to be self self-dependent on oil and gas. gerri: france's president, wants to ban homework. not because kids want to play outside or enjoy school. he wants to ban home work because it benefits the rich. saying that privileged kitted have srter -- kids have master parents. they need to stop worry about rich people leaving because they are leaving anyway because of
9:59 pm
the taxes, he should balance the scales. and focus on fact that students in france do not even get in the top 20, that is my two cents, have a great night, come bac tomorrow, see you then. lou: good evening, two network polls one from cbs the other cnn showing president obama as the winner of the sond presidential debate, by a margin. and they offer support for governor romney on principle issues, last night's debate was often contentious, and the moderar seemed unable to flow of the debate to facilitate the flow of the questions and

183 Views

info Stream Only

Uploaded by TV Archive on